Elon Musk's New Startup xAI Secures $6 Billion Funding, Backed by a16z, Sequoia Capital, and Fidelity
Elon Musk's New Startup xAI Secures $6 Billion Funding, Backed by a16z, Sequoia Capital, and Fidelity
AI startup xAI, led by Elon Musk, announced on Monday (27th) that it has completed a $600 million Series B financing round. The main investors include Valor Equity Partners, Vy Capital, Andreessen Horowitz (a16z), Sequoia Capital, Fidelity Asset Management Research Company, Prince Alwaleed Bin Talal of Saudi Arabia, also known as the “Middle East stock god,” and his Kingdom Holding Company.
In the announcement, xAI stated that its model capabilities have seen rapid improvement over the past year. With the open-source release of Grok-1, xAI has opened doors for advancements in various applications, optimizations, and model expansions.
xAI wrote:
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